Growing Your Business

Building a Business Costs More Than Just Money

by
Bob Mason
on
4/6/2016
Building a Business Costs More Than Just Money

As a business owner, there are a number of things that occur throughout the growth process. Being an entrepreneur requires sacrifice, dedication and most of all, the drive to make things happen. You must be able to see your vision when others cannot, and be able to roll with all the punches that are thrown your way. As you build your business, you must realize it takes a lot more than money to succeed. Your entire existence becomes the business, and the cost of getting things to where you want them to be are many.

Here are a few:

Time

When building a business, the investment of time is a given. You will eat, sleep, talk, walk and be all about the business. You will experience time away from family and friends, and there will be times when they will not understand your vision. You have to be prepared for complaints, feelings of regret and being alone. If this is your dream, you will have to sacrifice a majority of your time to make things happen.

Stress

Being a business owner takes stress to an entirely different level. Stress will come from a number of places, including customers, family, employees and personal levels of stress that may occur from a poor diet, lack of sleep, working too much and inability to concentrate because too many things are going on at one time. Being able to manage this stress is crucial.

Conflict

Going through conflict is a given. Whether you have customers who are not pleased, employees, investors or shareholders who do not agree with your policies or procedures, or family that does not understand why you are taking the time to do what you do. You will have a long road ahead of you, so properly preparing for all forms of conflict is needed. 

Change

As a business owner, you are apt to go through a number of changes. You must be flexible, and the people you hire must be flexible too. If you are just starting a business, there will be significant changes made at a moment's notice. As you grow, you will have different types of changes, but having the right mental state and perspective on where you want your business to go can help put things in order and prepare you for what's coming down the line.

Disappointment

You must be able to handle disappointment. As a business owner, disappointment will occur. You may not get a contract you really wanted, may fall short on your quarterly goals, or financial objectives, or you may have a number of people that do not believe in you and your company. This should give you the motivation to keep on going, and always look for the finish line.

Once you have determined these factors will not deter you, you are well on your way to being a business owner that can handle pressure and withstand the test of time. A successful business only comes by hard work and sacrifice; once you are willing to make that happen, the rest is well within your reach.

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Bob Mason

Bob Mason

Bob Mason is the founder of Coast Financial Services Inc. servicing both the Santa Cruz, and San Jose areas. Bob Mason is a skilled financial professional who is fully equipped to assist any of your accounting needs. Founding his firm in Santa Cruz, Bob understands the importance of small businesses and how they form the backbone of the area. Coast Financial Services, Inc. has been dedicated to the growth and profitability of businesses in Santa Cruz for 17 years. To learn more about Bob Mason and the rest of his team, visit their website.

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